Hi Friends, As a savvy buyer or seller in today’s real estate market, it’s crucial to understand the correlation between key metrics to make informed decisions. Let’s break down the data to provide a clear picture of the current landscape.
First, let’s look at the Months Supply of Inventory, which stands at 1.81. This metric represents the number of months it would take to sell all current listings at the current sales pace. A lower number indicates a seller’s market, with high demand and limited supply.
The 12-Month Change in Months of Inventory has increased by +37.12%, indicating a shift towards a more balanced market. This change suggests that inventory levels are rising, potentially offering more options for buyers.
The Median Days Homes are On the Market is 11, reflecting the speed at which homes are selling. A low number like this signifies a fast-paced market with high buyer interest.
The List to Sold Price Percentage is 98.2%, demonstrating that homes are typically selling close to their list price. This is good news for sellers, as it indicates strong demand and competitive bidding.
Finally, the Median Sold Price is $430,000, giving buyers and sellers a benchmark for pricing expectations. This figure reflects the average sale price in the current market conditions.
In summary, the data reveals a dynamic real estate market with low inventory, quick sales, and strong pricing. Buyers may face competition for limited listings, while sellers can expect favorable selling conditions. Understanding these correlations can guide your decisions and help you navigate the market effectively.
If you have any questions and need help with market trends and updates, reach out to Jennifer Yoingco, REALTOR®, and her team in The Houston Suburb Group, so you can get ready to EXPERIENCE LIVING IN HOUSTON, TEXAS!
Jeanette San Luis is a blog contributor, a double degree major in BS Chemical Engineering and BS Nursing, and graduated Magna Cum Laude and Summa Cum Laude respectively. She has won numerous accolades and was named one of Houston Chronicles TOP 150 Outstanding Nurses in 2016 and 2019. In her dual role as a REALTOR®, she empathizes and understands the needs of her clients; therefore, you are in very good hands.
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